Tech major Wipro’s new CEO and Managing Director Thierry Delaporte, 53, is set to assume his post from July 6. He was brought in after predecessor Abidali Neemuchwala left on June 1 after resigning in January.
Delaporte was previously Chief Operating Officer at Capgemini. He will hold the post as CEO and MD of Wipro for a period of five years till July 5, 2025. His annual package, including stock compensation and other benefits, is estimated at Rs 37.9 crore (4.45 million euro).
The appointment is set to also receive shareholder agreement during the company’s 74th annual general meeting (AGM), scheduled via video conferencing on July 13. Besides Delaporte, a special resolution to appoint Deepak M Satwalekar as an independent director of the company is also on the cards.
Delaporte’s remuneration will include basic pay in the range of 1.07-1.4 million euro per annum, a target variable pay in the range of 1.7-2.5 million euro per annum and a one-time cash award of $3 million that will be paid in two tranches of $1.5 million each on July 31 and July 31, 2021, the company said in a notice to the exchanges.
An expatriate allowance in the range of 428,000-550,000 euro “for assignments outside France and India (principal country of employer) at the per diem rate for each day of travel outside France and India that is determined by the company and based on the actual days of such travel” is also granted. Besides which, Delaporte will also receive restricted stock units (RSUs) – in form of annual stock grant and one-time RSU grant among other perquisites and benefits, it added.
Delaporte inclusion in Wipro can be viewed as a way to announce the company’s intent to become a multi-national company (MNC), analysts told The Hindu.
Peter Bendor-Samuel, CEO and founder of Everest Group, told the paper that in these ‘challenging times’, Delaporte biggest challenge would be to get back Wipro’s ‘industry-leading growth trajectory’.
Hansa Iyengar, Principal Analyst (Digital Enterprise Services) at Omdia, told the paper that Delaporte would need to ensure the company rebuilds its reputation in the ITeS sector. “He has to improve employee morale, strengthen client relationships, reduce tech firm’s exposure to at-risk clients, and increase influence in the C-suite by helping clients navigate the disruption caused by COVID-19. He has a tough task ahead to get the company back on the growth track,” she said.